On Wednesday, sources revealed that Saudi Arabia is poised to invest one billion US dollars in the Reko Diq gold and copper project. Plans include selling shares of OGDCL and PPL to Saudi Arabia, with preparations already underway for the investment next month. A committee, to be formed by the prime minister, will oversee the Saudi investment in the Reko Diq project, comprising officials from the finance ministry, OGDCL, PPL, and the energy ministry. Following the committee’s constitution, a summary will be forwarded to the Ministry of Finance and the energy ministry, with committee members expected to visit Saudi Arabia for final negotiations. An inter-governmental agreement for investment in the Reko Diq project will be signed between Pakistan and the Kingdom of Saudi Arabia. Reko Diq, touted to hold one of the largest untapped reserves of copper and gold globally, is slated to begin mining operations in 2028, as per Barrick’s feasibility study. Last December, Pakistan and Barrick Gold Corporation inked an $8 billion agreement on the Reko Diq project, one of the world’s largest undeveloped copper-gold mines, dormant since 2011. Barrick Gold’s delegation informed Prime Minister Shehbaz Sharif that the feasibility study is expected to wrap up by the end of 2024, with a focus on employing local and Balochistan-based individuals for the project.